3 Technology Stocks Dragging The Sector Down

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One out of the three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 8 points (0.0%) at 16,964 as of Wednesday, July 2, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,180 issues advancing vs. 1,847 declining with 143 unchanged.

The Technology sector currently sits up 0.3% versus the S&P 500, which is unchanged. On the negative front, top decliners within the sector include Tim Participacoes ( TSU), down 2.6%, Telecom Italia SpA ( TI), down 2.2%, Telecom Italia SpA ( TI.A), down 1.8%, TELUS ( TU), down 1.5% and CenturyLink ( CTL), down 1.5%. Top gainers within the sector include Shutterfly ( SFLY), up 13.7%, Rackspace Hosting ( RAX), up 8.0%, Alcatel-Lucent ( ALU), up 4.1%, Qihoo 360 Technology ( QIHU), up 4.1% and China Telecom ( CHA), up 3.7%.

TheStreet would like to highlight 3 stocks pushing the sector lower today:

3. ASML ( ASML) is one of the companies pushing the Technology sector lower today. As of noon trading, ASML is down $0.82 (-0.9%) to $93.85 on light volume. Thus far, 270,918 shares of ASML exchanged hands as compared to its average daily volume of 967,900 shares. The stock has ranged in price between $93.36-$93.87 after having opened the day at $93.53 as compared to the previous trading day's close of $94.67.

ASML Holding N.V. designs, manufactures, markets, and services semiconductor processing equipment used in the fabrication of intercircuits worldwide. ASML has a market cap of $41.1 billion and is part of the electronics industry. Shares are up 1.0% year-to-date as of the close of trading on Tuesday. Currently there are 7 analysts that rate ASML a buy, 1 analyst rates it a sell, and 2 rate it a hold.

TheStreet Ratings rates ASML as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full ASML Ratings Report now.

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